Switzerland-based Novaremed AG has entered into a licensing agreement with China’s NeuroFront (Shanghai) Co., Ltd, granting NeuroFront exclusive rights to develop, commercialize, and manufacture NRD.E1 in Greater China, including mainland China, Hong Kong, Macau, and Taiwan. In exchange, Novaremed will receive upfront and milestone payments totaling USD 130 million.
Drug Profile
NRD.E1 is a first-in-class, non-opioid drug candidate designed to treat diabetic peripheral neuropathy and other neuralgias. It operates through a novel mechanism of action and is protected by patents until 2040. The drug has completed a Phase IIa proof-of-concept study with promising results and has been granted fast-track designation by the US FDA. Full financial support from the US National Institutes of Health (NIH) for a Phase IIb study is expected to commence within weeks.
NeuroFront Background
NeuroFront is a Shanghai-based clinical-stage biotech company focused on developing and commercializing innovative neuroscience therapies. The company aims to address unmet medical needs in China and Asia, with a portfolio targeting migraines, painful diabetic peripheral neuropathy, depression, ADHD, and other CNS disorders. NeuroFront is backed by top-tier investors, including Nan Fung Life Sciences and Pivotal bioVenture Partners China, and led by a team of experienced neuroscience professionals.-Fineline Info & Tech
